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cliff of spending and tax cuts. good evening, i'm judy woodruff. >> ifill: and i'm gwen ifill. on the "newshour" tonight, we assess the dire forecast and the elusive fixes. >> woodruff: then, as the presidential hopefuls spar over health care, education and more, we talk to four political reporters in four swing states. ( coughing ) >> ifill: betty ann bowser has the story of the comeback of whooping cough with infants at greatest risk. >> four doctors stood there and they were all crying and they told us there was no way the machine was going to work any longer and they took her off life support and then she tried to take a breath and within seconds she was just gone. >> woodruff: lindsey hilsum reports on the thousands of refugees fleeing the west african nation of mali to escape the rule of islamic militants. >> the people coming across the border paint a picture of a region that's descending into chaos. they're terrified of the armed men who are roaming northern mali and imposing their version of sharia. >> ifil
cliff of spending and tax cuts. good evening, i'm judy woodruff. >> ifill: and i'm gwen ifill. on the "newshour" tonight, we assess the dire forecast and the elusive fixes. >> woodruff: then, as the presidential hopefuls spar over health care, education and more, we talk to four political reporters in four swing states. ( coughing ) >> ifill: betty ann bowser has the story of the comeback of whooping cough with infants at greatest risk. >> four doctors stood...
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Aug 22, 2012
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tonight, as we continue our look at the fiscal cliff, the spending cuts it triggers could mean big setbacks for modern medicine. >> tom: that and more tonight on nbr! captioning sponsored by wpbtni >> susie: pain at the gas pump is back, and that means a late summer getaway is going to cost you more. oil prices moved closer today to the $100-a-barrel level, closing today at $96.68. and gasoline prices have soared almost 30 cents a gallon in the past month. regular unleaded now averages $3.72 a gallon nationwide. but some drivers, like those in california, already are paying all-time highs. that hurts consumers and businesses. erika miller reports. >> reporter: yes, it's costing you more to fill up your car's gas tank. but imagine if you drove this bus, which holds 250 gallons of fuel. >> this one is for $350, and >> reporter: that's only a partial fill-up. a full tank costs well over $1,000. in addition to charter bus trips, kismet offers standard black limousine service. gasoline is the company's biggest expense. >> fuel is approximately 47% of our total overall business model. fuel is wha
tonight, as we continue our look at the fiscal cliff, the spending cuts it triggers could mean big setbacks for modern medicine. >> tom: that and more tonight on nbr! captioning sponsored by wpbtni >> susie: pain at the gas pump is back, and that means a late summer getaway is going to cost you more. oil prices moved closer today to the $100-a-barrel level, closing today at $96.68. and gasoline prices have soared almost 30 cents a gallon in the past month. regular unleaded now...
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days to reach a deal, before the fiscal cliff's tax hikes and spending cuts take effect. >> susie: mark zandi says "bad things will happen to the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by early february, i think stock investors, bond investors will start to get very very nervous, start selling, risky businesses pull back and by the end of february when we start approaching the ceiling for the debt limit, i think we'll be back in recession. it will be a fairly severe recession. so policy makers have a few weeks but not much more than that. they have to get this together. >> susie: some people are saying that today's jobs report is very encouraging and that you can look at this as a way that maybe the economy can handle some stuff belt tightening because things are looking a little bit better. how do you th
days to reach a deal, before the fiscal cliff's tax hikes and spending cuts take effect. >> susie: mark zandi says "bad things will happen to the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by...
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Aug 21, 2012
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. >> tom: by now, you've probably heard of the fiscal cliff, the spending cuts and tax hikes that go into effect this january if there is no action by congress. while economists say the cliff would solve our national debt problems over the next decade, it might also throw us into a recession. all this week, we're taking a close look at the fiscal cliff and what's at stake. tonight, sylvia hall tackles the defense budget, which faces $500 billion in cuts, and what's at risk for the nation's defense industry. >> reporter: in the early 20th century, johnstown, pennsylvania thrived on steel. with those days long gone, much of this economy has found new life in the u.s. defense industry. j.w.f. industries stands on the site of an old bethlehem steel mill. where workers used to stoke furnaces and weld iron, the 400 employees cut, bend, weld, paint, and assemble high-tech radar systems, vehicle armor, and other equipment for the military and its contractors. c.e.o. bill polacek says it's a re-invention in jeopardy. >> our defense business is about 50% to 60%. if sequestration takes effect,
. >> tom: by now, you've probably heard of the fiscal cliff, the spending cuts and tax hikes that go into effect this january if there is no action by congress. while economists say the cliff would solve our national debt problems over the next decade, it might also throw us into a recession. all this week, we're taking a close look at the fiscal cliff and what's at stake. tonight, sylvia hall tackles the defense budget, which faces $500 billion in cuts, and what's at risk for the...
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he also said his bank is assembling a war room to prepare for the coming fiscal cliff of spending cuts and tax increases that's slated to hit the economy this january. looks like steve balmer's tax bill will be smaller, the microsoft c.e.o. bonus was choped in half as the online services division failed to meet the board's growth charges. according to a regulatory filing, ballmer's bonus was cut to just over $600,000. microsoft shares fell slightly today, to just under $29 a share, still they're up 13% on the year. and finally tonight, as we focus on retail and the upcoming holiday season, what do you get for the person who has everything? how about his very own jet pack, perfect for shooting off to those last minute meetings. if that's not your speed, $354,000 will hook you up with a special edition mcclaren 12c spider, one of just 12 made. you guessed it, the neiman marcus christmas book is hot off the presses, with lots of over- the-top, one-of-a-kind gifts. and there's a stunning his-and- her watch set, from van cleef and apparels. the price: just a million bucks. that's nightly bu
he also said his bank is assembling a war room to prepare for the coming fiscal cliff of spending cuts and tax increases that's slated to hit the economy this january. looks like steve balmer's tax bill will be smaller, the microsoft c.e.o. bonus was choped in half as the online services division failed to meet the board's growth charges. according to a regulatory filing, ballmer's bonus was cut to just over $600,000. microsoft shares fell slightly today, to just under $29 a share, still...
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maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell yoo what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer the u.s. off a different cliff. and when someone falls off a cliff in washington, there are no stunt men to pick them up. on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. and if we do go over this cliff and let all this happen, the economy is projected to stagger into recession. it could derail everything, it would really hurt the economy, the job market and obviously the housing market as well. now here's the surpris
maybe you've heard about all the automatic tax increases and spending cuts that make up the fiscal cliff. now, before you say this is just another silly inside-the-beltway mess that doesn't affect my life. we want to tell you that the fiscal cliff is different. tonight, we're going to tell yoo what all this means to you, to our economy and our future. thelma and louise made pop history when they defiantly drove off that cliff. but this january, congress could steer the u.s. off a different...
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cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> reporter: bernanke was again asked by members of congress if low interest rates were hurting savers. he said most retirees had most of their money in stock and mutual funds. >> those assets are assets whose returns depend very much on how strong the economy is. so, in trying to strengthen the economy, we are actually helping savers by making the returns higher as we can see in the stock market, for instance. >> reporter: the fed has spent so much time explaining itself lately that there were only two real surprises in bernanke's testimony. we learned he does his own grocery shopping. and his son may rack up $400,000 in debt as he makes his way through medical school. darren gersh, "nightly business report," washington. >> tom: the chairman's testimony pushed stocks lower today. still, it was the best february for the stock market in 14
cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> reporter: bernanke was again asked by members of congress if low interest rates were hurting savers. he said most retirees had most of their money in stock and mutual funds. >> those assets are assets whose returns depend very much on how strong the economy is. so, in trying to...
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>> the situation is not just a fiscal cliff. we are spending a lot more than we are earning as a nation. the nation is rich enough to try to live within its means. the problem is, of course, that people have been delaying -- at some point, you are going to have to find a solution. they keep delaying the solution. every time, we have a worse rescue. i would rather have things solved early than late. that is my situation. i would rather have the markets tell us -- i would rather have events precipitate events, rather than sit there like the people in washington. the core of my idea is that it is not just a fiscal cliff, we have had -- ever since alan greenspan came to run the federal reserve, we have had this artificial stimulation masking the problems, stabilizing markets. it is very harmful. a forest in which you stifle every fire, in the long run, you'll have flammable material accumulating. tavis: we go over the cliff and in the best of worlds, what happens? >> we will be forced to find a solution. people find a solution rathe
>> the situation is not just a fiscal cliff. we are spending a lot more than we are earning as a nation. the nation is rich enough to try to live within its means. the problem is, of course, that people have been delaying -- at some point, you are going to have to find a solution. they keep delaying the solution. every time, we have a worse rescue. i would rather have things solved early than late. that is my situation. i would rather have the markets tell us -- i would rather have events...
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on the fiscal cliff, those big spending cuts and tax hikes set to hit the u.s. economy on january 1, we examine whether congress and the white house can strike a deal to avoid going off the cliff. so be sure to join on us, we look at the impact of the cliff on jobs, how strategies for investors, and tom talks with mark mobius, the global investing guru. that's "nightly business report" for wednesday, november 21. happy thanksgiving everyone, and hope you have a great holiday too tom. >> tom: goodnight susie, we'll see you online at: www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. also follows us on our facebook page at bizrpt. and on twitter @bizrpt. >>> tonight on "quest" -- more than 70% of our world is covered with water, and most of that territory remains unexplored. see how the denizens of the deep are helping scientists understand more about their m
on the fiscal cliff, those big spending cuts and tax hikes set to hit the u.s. economy on january 1, we examine whether congress and the white house can strike a deal to avoid going off the cliff. so be sure to join on us, we look at the impact of the cliff on jobs, how strategies for investors, and tom talks with mark mobius, the global investing guru. that's "nightly business report" for wednesday, november 21. happy thanksgiving everyone, and hope you have a great holiday too tom....
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some think then that the fiscal cliff slash spending and taxes is not economic suicide but the very opposite. the last resort for avoiding a fatal whirlpool of debt. so what about more debt? will it destroy us or won't it? how bad would it be to barrel over the cliff? enter former i.m.f. economist simon johnson of m.i.t. he's written a book, white house burning, on the history of u.s. debt, its why's and wherefors and get this its considerable virtues. we asked if he could provide a tv version. the answer was a mobile history lesson. starting at the museum where every 15 minutes they re-enact the dumping that helped make a town famous and a group of contentious colonies united. so to begin you're in boston. what's your fundamental thesis? >> the american republic is born partially in a tax revolt. this is the at a party site where they threw the at a over because they didn't like the tax system. so this has been a fundamental debate and argument from the beginning of the american republic. we come back today to exactly the same sorts of issues. >> country men... reporter: well, not exactly t
some think then that the fiscal cliff slash spending and taxes is not economic suicide but the very opposite. the last resort for avoiding a fatal whirlpool of debt. so what about more debt? will it destroy us or won't it? how bad would it be to barrel over the cliff? enter former i.m.f. economist simon johnson of m.i.t. he's written a book, white house burning, on the history of u.s. debt, its why's and wherefors and get this its considerable virtues. we asked if he could provide a tv version....
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there are always two sides of the fiscal cliff. there is the tax side and the spending side. over 10 years, 1.2 trillion dollars, but the question is, does the president support a temporary postponement? that is what i want to get to, because there is not going to be enough time unless you postponed. >> did you sense he was open to some kind of a deal with republicans? where does the deal lied? >> they did two steps forward, one step back. then he says he is open to the idea of having rates stay where they are apt, but finding the money by closing loopholes, so- called tax expenditures. the idea but it was open to all ideas. he wants to send a message that he is willing to negotiate. >> are you worried about market tumble? today the white house was down? >> the economic and visors, everyone is concerned about what happened. nobody is quite certain about how markets react. one thing that is clear if we do go over, the president will have a stronger negotiating the president has a window after we go over. it is only for a couple of weeks, not much longer. >> do we get a deal be
there are always two sides of the fiscal cliff. there is the tax side and the spending side. over 10 years, 1.2 trillion dollars, but the question is, does the president support a temporary postponement? that is what i want to get to, because there is not going to be enough time unless you postponed. >> did you sense he was open to some kind of a deal with republicans? where does the deal lied? >> they did two steps forward, one step back. then he says he is open to the idea of...
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. >> the fiscal cliff is a series of spending cuts and tax rises. the uncertainty is already hurting the economy here and americans are angry. >> there is no reason they can't sell it. >> i'm frustrated with all of capitol hill. it is a lot of people to feel that way. it is disgraceful what's going on and we have to put some people who will compromise and of these guys can do it, get rid of them. >> even if the deal isn't found, it won't fix america's budget problems. the government has been tried and found wanting. >> let's take you back to the scene of the greek capital, athens. we did not do it much just as we came to at midnight but the fireworks are under way. it is a country in the deep crypts of austerity budget is perhaps the greeks for getting the financial woes of the country for a few hours. let's leave this beautiful scenes in aphids and go back to the continuing saga on capitol hill. steve kingston is following develops -- following developments. >> both sides are expressing cautious optimism that the framework appears to be in place. p
. >> the fiscal cliff is a series of spending cuts and tax rises. the uncertainty is already hurting the economy here and americans are angry. >> there is no reason they can't sell it. >> i'm frustrated with all of capitol hill. it is a lot of people to feel that way. it is disgraceful what's going on and we have to put some people who will compromise and of these guys can do it, get rid of them. >> even if the deal isn't found, it won't fix america's budget problems....
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economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. it may defer some of it because they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and believes the fiscal cliff will impact shopping patterns. he says in an uncertain economy retailers will need to pay close attention to pricing. >> as the confidence erodes, you might need more discounting to sell a luxury good. but that extra discounting won't take away from that good-feeling luxurious. >> reporter: according to a study out today, half of u.s. consumers still plan to buy make a small luxury purchase in the next six months. of those, 53% want specialty food or drinks, 48% are in the mood for luxury clothing, and 48% are
economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. it may defer some of it because they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and...
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>> tom: a small deal to avoid the fiscal cliff brings a big rally to wall street. awaiting president obama's signature tonight is an agreement not to raise taxes on most americans. even though hard decisions on
>> tom: a small deal to avoid the fiscal cliff brings a big rally to wall street. awaiting president obama's signature tonight is an agreement not to raise taxes on most americans. even though hard decisions on
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. >> reporter: the fiscal cliff deal removes a major negative overhang for the u.s. economy. >> congress wasn't just voting on a fiscal package. they were voting on whether or not they wanted the economy to slip into contraction in the first half of 2013. >> reporter: but, it's not clear the economy is in any better shape, as a result of the deal. >> overall , it should be a little bit of a drag. when tax rates go up, there will be less money around to spend. there will be a lower savings rate most likely. >> reporter: the budget bill raises the top marginal tax rate to 39.6%. those top earners will also pay higher taxes on their investments. but, many of those households will be able to absorb the tax increases by lowering their savings rates. the bigger concern is what happens to spending by lower and middle income consumers. the decision not to extend the payroll tax cuts for all workers, means the average household will have a thousand dollars less income this year. >> a lot of working class and middle income households do live paycheck to paycheck. so if suddenl
. >> reporter: the fiscal cliff deal removes a major negative overhang for the u.s. economy. >> congress wasn't just voting on a fiscal package. they were voting on whether or not they wanted the economy to slip into contraction in the first half of 2013. >> reporter: but, it's not clear the economy is in any better shape, as a result of the deal. >> overall , it should be a little bit of a drag. when tax rates go up, there will be less money around to spend. there will...
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economy is heading over a fiscal cliff. that cliff is the expiration of tax cuts and the start of deep spending cuts in the federal budget scheduled early next year. darren gersh reports. >> reporter: just like the rest of us, the federal reserve is waiting to see where the economy goes next. at its late april meeting, minutes released today show several members of the fed's policy making committee thought more bond purchases might make sense. "if the economic recovery lost momentum or the downside risks to the forecast became great enough." after the fed's last meeting, only a couple members felt that more so-called quantitative easing might be needed. so what are the risks for the american economy? deeper trouble from europe, for one. or trouble could come from the fed's neighbors in washington. if congress and the president can't resolve their difference before tax breaks expire or spending cuts take hold next year, the fed minutes show bernanke and his colleagues are worried the fighting over the debt limit could hold b
economy is heading over a fiscal cliff. that cliff is the expiration of tax cuts and the start of deep spending cuts in the federal budget scheduled early next year. darren gersh reports. >> reporter: just like the rest of us, the federal reserve is waiting to see where the economy goes next. at its late april meeting, minutes released today show several members of the fed's policy making committee thought more bond purchases might make sense. "if the economic recovery lost momentum...
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a third of those surveyed by bankrate.com have reduced their spending thanks to the fiscal cliff show-down in washington. those cutting back are more likely to consider themselves republicans or independent voters according to the survey. and while the tax debate is over high income earners, it's those earning less than $30,000 a year who are more likely to reduce their spending. we recently spoke with two behavioral finance professors about the impact the uncertainty can have for consumers and investors. they are professors at the university of miami. gentlemen, thanks for joining us. how do the fiscal cliff, the threat of the fiscal cliff, how could it be impacting consumer behavior? >> right now it could generate a lot of uncertainty in the minds of consumers. different demographics might react very differently. specifically, the 1% or 2% at the top, where the democrats are proposing very large tax increases, or the repeal of the bush tax cuts to that group, it could affect their consumption decisions ahead of the holidays. they might choose to pull back or wait to see what the ultimate
a third of those surveyed by bankrate.com have reduced their spending thanks to the fiscal cliff show-down in washington. those cutting back are more likely to consider themselves republicans or independent voters according to the survey. and while the tax debate is over high income earners, it's those earning less than $30,000 a year who are more likely to reduce their spending. we recently spoke with two behavioral finance professors about the impact the uncertainty can have for consumers and...
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gwen: budgets, spending fiscal cliffs and eventually a government shutdown. >> lord, deliver us from governing by crisis. gwen: and that's before the republicans began fighting among themselves. >> it's been incredible difficult for john boehner. i don't think that the grass roots would see him as an enemy. wen: meanwhile obama's most ambitious achievement at the center piece of its domestic policy. >> the president's health care law continues to wreak havoc on american families, small businesses and our economy. it's not just a broken website. gwen: the economy bounced back spurring the stock market to new highs. but abroad more conflict in syria, in iran, in afghanistan. >> car za said i'm not going to sign it. he doesn't want to be blamed if people turn on this deal. gwen: plus the culture debates return in form. who is spying on who? who gets to marry? we explore the roller coaster year with the "washington week" panelists who have been there to bring you the story. >> award-winning reporting and analysis, covering history as it happens, from our nation's capital this is "washing
gwen: budgets, spending fiscal cliffs and eventually a government shutdown. >> lord, deliver us from governing by crisis. gwen: and that's before the republicans began fighting among themselves. >> it's been incredible difficult for john boehner. i don't think that the grass roots would see him as an enemy. wen: meanwhile obama's most ambitious achievement at the center piece of its domestic policy. >> the president's health care law continues to wreak havoc on american...
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little about the automatic spending cuts piece of the fiscal cliff. >> and i will not cut our military budget by a trillion dollars, which is a combination of the budget cuts the president has, as well as the sequestration cuts. that, in my view, is making... is making our future less certain and less secure. >> first of all, the sequester is not something that i've proposed; it is something that congress has proposed. it will not happen. the budget that we are talking about is not reducing our military spending, it is maintaining it. >> tom: darren gersh is our washington, d.c., bureau chief. >> well, i have to tell you, the defense industry was really excited about this. the ceo of the aerospace industry association had a conference with reporters and said she left out of her chair with joy when she heard this noise. they're very excite body t. the white house was spending time walking this back saying that basically the president didn't say anything new. the sequester was never intended actually to take effect. that's what the president meant when he said we'll find a way to get pas
little about the automatic spending cuts piece of the fiscal cliff. >> and i will not cut our military budget by a trillion dollars, which is a combination of the budget cuts the president has, as well as the sequestration cuts. that, in my view, is making... is making our future less certain and less secure. >> first of all, the sequester is not something that i've proposed; it is something that congress has proposed. it will not happen. the budget that we are talking about is not...
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and in doing something like that getting the bipartisan support to, you know, detrigger this fiscal cliff, all of these spending cuts an tax increases that would otherwise happen at the end of the year? if it's mitt romney who gets elected, i think -- you know, he doesn't have that kind of plan on the shelf. we all know how big his economic plan has been in this campaign. i think there will be -- he will ask for and probably get agreement to as they say kick the can down the road. >> assuming the house stays where it is. >> they talked about delaying things for a year to give him time to put down his plan. >> to me the question is if we have an obama victory does senator mitch mcconnell come out chases saying look, it's time to cut the deal? and also what does paul ryan think. he will be the darling of the republicans. gwen: do we think that the well of the executive branch can be unpoisoned? >> i think so. i'm reasonably optimistic about the prospects that -- once we put the campaign 3w450eu7bd us, something's going to happen. it will be easier if obama is re-elected. boehner returns as
and in doing something like that getting the bipartisan support to, you know, detrigger this fiscal cliff, all of these spending cuts an tax increases that would otherwise happen at the end of the year? if it's mitt romney who gets elected, i think -- you know, he doesn't have that kind of plan on the shelf. we all know how big his economic plan has been in this campaign. i think there will be -- he will ask for and probably get agreement to as they say kick the can down the road. >>...
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as investor attention turn toward the fiscal cliff combination of tax hikes and government spending cuts, they were looking for safety in government i.o.u.'s. the interest rate on the 10 year benchmark government bond dropped to 1.63%, it's lowest since early october. as this yield falls, the price of the bond rises. all five most actively traded exchange traded products suffered losses. the financial sector fund fared the worst, down 3.3%. and that's tonight's "market focus." >> susie: walmart could change health care the way it changed retailing. the world's largest retailer has deals with six of the nation's leading medical clinics. walmart employees and their families can get free consultations and surgeries without paying any out-of-pocket expenses. diane eastabrook recently talked to the president and c.e.o. of the cleveland clinic about the walmart effect. >> reporter: with nearly a million and a half u.s. employees-- walmart has the muscle to wring out health care costs from providers. and that's why it's made deals with six large providers including the mayo and cleveland clinic
as investor attention turn toward the fiscal cliff combination of tax hikes and government spending cuts, they were looking for safety in government i.o.u.'s. the interest rate on the 10 year benchmark government bond dropped to 1.63%, it's lowest since early october. as this yield falls, the price of the bond rises. all five most actively traded exchange traded products suffered losses. the financial sector fund fared the worst, down 3.3%. and that's tonight's "market focus."...
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the fiscal cliff threatens the economy,-s over stock investors but what about bond investors? >> bond investors have to watch out for the fiscal cliff as well. a lot of analysts are not a souming that will completely go over it but they're really uncertain and saying you know there is a lot of repercussions that people with fixed income can v especially in municipal bonds. but i'm sure we'll get to that. >> tom: absolutely, normally uncertainty would help out the bond market. this year the bonds have done very well. there is no doubt about it but they have pealed in comparison to stocks, up double digits. government bond mutual funds up 3%. corporate invest graded a rated bond funds up 7%, general municipal bond funds up 9% all according to lipper. so they've underperformed the stock market despite all this uncertainty. >> yeah, they have. and you know, theyontinue to go up. you know, you have some quantitative easing going on. and so people have jumped into corporate bonds. you know, the municipal bonds have continued to be attractive. they're tax exempt. you know, so far, so
the fiscal cliff threatens the economy,-s over stock investors but what about bond investors? >> bond investors have to watch out for the fiscal cliff as well. a lot of analysts are not a souming that will completely go over it but they're really uncertain and saying you know there is a lot of repercussions that people with fixed income can v especially in municipal bonds. but i'm sure we'll get to that. >> tom: absolutely, normally uncertainty would help out the bond market. this...
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Jan 2, 2013
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cliff, there was another, a different spending spat that divided the republican party. house republican leaders refused to take up an aid package for vsms hurricane sandy which the president called for and the senate had approved elderlier. from the moment the house convened today, bi-partisan anger filled the chamber. lawmakers from new york, new jersey and connecticut said the failure to vote on hurricane "sandy" aid was a betrayal. >> we cannot believe that this cruel knife in the back was delivered to our region. >> they said you are on your own. my friends, our people cannot be on their own. >> woodruff: the senate approved a $60 billion storm recovery measure last friday. house leaders had been considering a pared-down version, when speaker john boehner pulled the bill last night. a number of republicans had insisted on offsetting spending cuts. but boehner's decision was lambasted by new jersey's republican governor chris christie, who charged storm victims have already waited too long. >> america deserves better than just another example of a government that has
cliff, there was another, a different spending spat that divided the republican party. house republican leaders refused to take up an aid package for vsms hurricane sandy which the president called for and the senate had approved elderlier. from the moment the house convened today, bi-partisan anger filled the chamber. lawmakers from new york, new jersey and connecticut said the failure to vote on hurricane "sandy" aid was a betrayal. >> we cannot believe that this cruel knife...
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Nov 7, 2012
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cuts that could drive the economy toward that so-called "fiscal cliff" next year. the president must also still defend his health care law, which remains unpopular and make good on his promise to jumpstart immigration reform. for a look at those realities ahead, we turn to john cowan, the president of third way, a moderate democrat think tank here in washington. and naftali bendavid who covers congress for the "wall street journal." naftali, we saw john boehner come out today and say-- sound like he was finding middle ground. we heard the president call john boehner and harry reid and sound like he was extending some sort of-- i don't know, the day after the election-- olive leaf. is that true? >> i think so. it was really striking to see the conciliatory language on both sides, particularly with speaker boehner who was very careful in the words he used. he used a teleprompter, something he doesn't usually do as though to make sure he used the right language and took no questions from reporters. early opoliticians know voters want compromise, they want concillation
cuts that could drive the economy toward that so-called "fiscal cliff" next year. the president must also still defend his health care law, which remains unpopular and make good on his promise to jumpstart immigration reform. for a look at those realities ahead, we turn to john cowan, the president of third way, a moderate democrat think tank here in washington. and naftali bendavid who covers congress for the "wall street journal." naftali, we saw john boehner come out...
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Nov 21, 2012
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ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fed's role in the fiscal cliff negotiations is to communicate. >> tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. >> susie: is there another role or more of a role for the fe
ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will...
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it is the spending part of the fiscal cliff that aims to cut more a trillion dollars in government spending over the next decade. the c.i.a. of keyw, a cyber-security firm that does a lot of business with the government. welcome to n.b.r. it is nice to see you. >> thank you, tom. it is nice to be here. >> tom: most of your company's revenue is derived from the government, so what kind of risk does it present for you and your shareholders. >> i don't think you can judge the rest of the business by what we do or what our concerns are because the counterterrorism and cyber-areas of the government, and particularly the intelligence business, which is our focus, are somewhat immune from those kind of cuts. they are the highest priority in the government. of the president's budget, they're the highest priority. so we haven't seen any impact yet. and while we might see some in the future, we're not going to see it nearly as much as the big guys with ships and tanks and those sorts of things. >> tom: you're talking about intel, which is a key spend, a lot of return on investment. with the drawdown
it is the spending part of the fiscal cliff that aims to cut more a trillion dollars in government spending over the next decade. the c.i.a. of keyw, a cyber-security firm that does a lot of business with the government. welcome to n.b.r. it is nice to see you. >> thank you, tom. it is nice to be here. >> tom: most of your company's revenue is derived from the government, so what kind of risk does it present for you and your shareholders. >> i don't think you can judge the...
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Nov 10, 2012
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cliff threat to cut defense spending. boeing rallied 3.2% after announcing it has more than one thousand new orders so far this year. lockheed martin stock gained a fraction during the regular session. after the close the incoming ceo and current president chris kubasik resigned. the company said the executive had a "lengthy, close personal relationship" with another relationship" with another employee. kubasik is married. the head of lockheed's electronics unit, marilyn hewson has been named the number two and the firm. j.c. penney has had a rough go of it, trying to change its image and offerings for shoppers. the company lost a lot more money than feared in the third quarter, losing 93 cents per share. it suffered its worst ever drop in sales at stores open for at least a year. still, c.e.o. ron johnson said he remains 100% committed to his restructuring plan. shares fell 4.8% on heavy volume. j.c. penney had moved to reduce coupons and sales and that hurt customer traffic. today its pledged it would have a big sale on
cliff threat to cut defense spending. boeing rallied 3.2% after announcing it has more than one thousand new orders so far this year. lockheed martin stock gained a fraction during the regular session. after the close the incoming ceo and current president chris kubasik resigned. the company said the executive had a "lengthy, close personal relationship" with another relationship" with another employee. kubasik is married. the head of lockheed's electronics unit, marilyn hewson...
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cliff of tax hikes and spending cuts. the house planned to reconvene on sunday evening. a christmas season storm rolled through the northeast and new england, as the death toll climbed to 16. and lisa jackson announced she's stepping down as administrator of the environmental protection agency. and online, we've got a unique year-in-review of sorts. kwame holman has more. >> holman: science correspondent miles o'brien has had a most interesting 2012. he's crawled in sewage, cuddled with dolphins and played guinea pig to lots of experiments. watch some of the best outtakes of miles' science stories on the rundown. and we round up the most important lessons we've learned about helping kids stay in school from our series, american graduate. all that and more is on our web site newshour.pbs.org. margaret? >> warner: and that's the "newshour" for tonight. i'm margaret warner. >> brown: and i'm jeffrey brown. we'll see you online and again here tomorrow evening with mark shields and david brooks among others. thank you and good
cliff of tax hikes and spending cuts. the house planned to reconvene on sunday evening. a christmas season storm rolled through the northeast and new england, as the death toll climbed to 16. and lisa jackson announced she's stepping down as administrator of the environmental protection agency. and online, we've got a unique year-in-review of sorts. kwame holman has more. >> holman: science correspondent miles o'brien has had a most interesting 2012. he's crawled in sewage, cuddled with...